N.Y. Workshop Offers Insights Into Needs of Entrepreneurial Women
Patricia Jaeger left a lively workshop on managing cash flow a changed woman.
“I have to replace my accountant,” she declared. “I need him to educate me and he hasn’t really been sitting down with me to explain anything.”
Jaeger, founder of Patricia Jaeger Salon on West 58th Street, was among the thousands of entrepreneurial women attending the 14th national women’s conference sponsored by the American Women’s Economic Development Corp. AWED is a nonprofit group that provides affordable training and counseling services to thousands of American businesswomen a year.
Like many other women at the two-day meeting, Jaeger had worked for many years in her profession but was unprepared for the challenges of small-business ownership. Since opening her Manhattan salon 18 months ago, she’s been trying to keep the books as well as keep her clients and co-workers happy.
“I have a tremendous block when it comes to subjects like cash flow,” she admitted. “I would have loved to avoid that cash flow workshop, but I’m glad I went.”
Cash flow management was just one of the nearly 150 workshops offered during the high-energy conference. Keynote speakers ranged from sex therapist Dr. Ruth Westheimer to law professor Lani Guinier, who was forced to withdraw her nomination for a key Justice Department post after critics charged she was a racial “quota queen.”
The women who descended on the workshops avidly took notes and asked questions. Although there are no hard statistics to prove it, business experts say, female entrepreneurs are, in many cases, more likely to succeed than men because they admit they don’t know everything and eagerly solicit outside help.
“It’s suicide to do everything yourself,” said Kathryn Barrios, manager of AWED’s new training program in Stamford, Conn. She said AWED programs focus on teaching business fundamentals so women can increase their chances of success from the start.
“Gaining technical knowledge increases a woman’s confidence, and then her customers take her more seriously,” Barrios said.
Entrepreneurial women who complete AWED’s intensive business training programs often increase their gross receipts by as much as 60%, according to Ellyn McKay, manager of AWED’s Washington training program.
McKay spends much of her time recruiting experienced business people and professionals willing to volunteer their time as instructors and counselors.
“The volunteers do it because they believe in giving back to the community,” McKay said. “They really want to support the women behind them.”
AWED also stresses the importance of peer group support and collective problem solving. “It’s great for a woman business owner to be able to come to a safe place once a week,” McKay said.
When former radio broadcaster and political press secretary Tamu Fitzgerald lost her last job in March, 1992, she vowed that she was “never going to work for another soul as long as I live.”
With AWED’s help, Fitzgerald now operates not one but two small businesses from her Alexandria, Va., home. While her main business is public relations, she also designs and sells ethnic jewelry.
Sitting behind a colorful display of beaded necklaces and earrings in the AWED exhibit area, Fitzgerald said she owes much of her success to the advice she received from AWED programs. For example, she established a solid relationship with a banker after an AWED counselor urged her to go into the bank and meet with the branch manager. That relationship proved essential when Fitzgerald applied for a merchant account to process credit card transactions.
“At first, my banker didn’t want to give me a merchant account because I worked at home,” Fitzgerald said. “But I did the research, made a convincing argument and finally got the approval.”
AWED, which has been around for nearly 20 years, also helped Fitzgerald find an experienced business attorney.
“The programs are the most productive business programs I’ve attended, compared with just sitting around listening to ‘feel-good’ stuff,” she said.
For more information, write to AWED’s national headquarters at 71 Vanderbilt Ave., Suite 230, New York, N.Y. 10169.
Jane Applegate is a syndicated columnist and author. Write to her at P.O. Box 637, Sun Valley, CA 91353.
